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THREE SET UPS
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Created: by Jeff Castille Attachments:243

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THREE SET UPS

  #151 (permalink)
Trade with the flow
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First trade was outside bar setup. +8 +16

I got 1 tick positive slippage on the entry and that saved me because my target was hit on the low of the bar.

Anyone else take it? I'm curious if you got the same results.

Attached Thumbnails
THREE SET UPS-crude-trade-01a.png   THREE SET UPS-crude-trade-01b.png   THREE SET UPS-crude-trade-01c.png  
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  #152 (permalink)
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cunparis View Post
First trade was outside bar setup. +8 +16

I got 1 tick positive slippage on the entry and that saved me because my target was hit on the low of the bar.

Anyone else take it? I'm curious if you got the same results.

Hey C,

Yes, I took the same trade however.......I only achieved my first objective........the market moved to within 2 ticks of my second target.....then........+1. I was glad the stop moved when it did.....if it was -8 back I would have been b/e on the trade but it turned out +8+1

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  #153 (permalink)
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Jeff Castille View Post
Hey C,

Yes, I took the same trade however.......I only achieved my first objective........the market moved to within 2 ticks of my second target.....then........+1. I was glad the stop moved when it did.....if it was -8 back I would have been b/e on the trade but it turned out +8+1

I think maybe moving it to -3 or -4 would give the trade a little more room. Sometimes it pulls back to the exact breakout pt and it's a pain to get stopped out when a few ticks of room would be better. So I'm going to try -3 and see how that goes.. I'd like to do some stats, if it pulls back to breakeven what's the chance of it hitting target, the chance of it hitting -8, etc..

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  #154 (permalink)
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All of you guys are doing really well with these. Just goes to show that trading does not have to be complicated.

Congrats to you and a big thanks to Jeff for turning the community on.

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  #155 (permalink)
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Zoethecus View Post
All of you guys are doing really well with these. Just goes to show that trading does not have to be complicated.

Congrats to you and a big thanks to Jeff for turning the community on.

This is 1000x simpler that the other methods I'm currently doing. Makes me rethink my beliefs about simple price action setups. I just hope it keeps working.

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  #156 (permalink)
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There's an inside bar right now but natural gas inventories is in 10 minutes..

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  #157 (permalink)
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Jeff Castille View Post
.......a strange thing happened on my first trade.........I usually set a buy or sell stop a few seconds before the signal bar has finished forming. Well.......it was 11 seconds BEFORE what I thought was going to be an inside bar had formed.......BOOM.....my trade was triggered.....first target hit....stop moved.....and it turned out to NOT be an inside bar....that has never happened before. (4)

This raises a question I've been toying around with: Is there a way to view bars that start at times other than the top of the hour?

For instance, instead of a 15-minute bar that starts at 10:00 and ends at 10:15, can you set the chart to create a bar that starts at 10:05 and ends at 10:20?

I'm thinking that there may be many other potential trades occurring during the day, but they're not recognized on a standard 15-minute chart. You could theoretically have 15 charts open, each one calibrated to a different minute, and thus catch more trade opportunities. Not sure if this would work but it would be interesting to find out.

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  #158 (permalink)
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worldwary View Post
This raises a question I've been toying around with: Is there a way to view bars that start at times other than the top of the hour?

For instance, instead of a 15-minute bar that starts at 10:00 and ends at 10:15, can you set the chart to create a bar that starts at 10:05 and ends at 10:20?

I'm thinking that there may be many other potential trades occurring during the day, but they're not recognized on a standard 15-minute chart. You could theoretically have 15 charts open, each one calibrated to a different minute, and thus catch more trade opportunities. Not sure if this would work but it would be interesting to find out.

This is the basis of the Kase indicators as described in her book. He uses a rolling window to compute stochastics and other top secret proprietary indicators. It's an interesting idea for Jeff's setups. I'm curious what you find.

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  #159 (permalink)
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worldwary View Post
This raises a question I've been toying around with: Is there a way to view bars that start at times other than the top of the hour?

For instance, instead of a 15-minute bar that starts at 10:00 and ends at 10:15, can you set the chart to create a bar that starts at 10:05 and ends at 10:20?

I'm thinking that there may be many other potential trades occurring during the day, but they're not recognized on a standard 15-minute chart. You could theoretically have 15 charts open, each one calibrated to a different minute, and thus catch more trade opportunities. Not sure if this would work but it would be interesting to find out.

Theoretically, you're correct. This would require significant testing for each data series for proper trade management.

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  #160 (permalink)
Trade with the flow
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Posts: 2,563 since Jun 2009
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Setup #2 Inside bar - I didn't take it cause of news (gas) +8

Setup #3 Inside bar - I completely missed it, was busy with ES. Too bad for me, I got to learn to pay more attention to this. +8 +16

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